Table 1

A revenue tax of a few percent can take every dollar of profit

Minimum profit margin a $1 billion model data center must earn to keep any profit after all federal, state, and local taxes

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Source: Author using Jared Walczak, "State Taxation of Data Centers," Tax Foundation, December 19, 2025.
Notes: Assumes new federal revenue tax is non-deductible. Holds state and local taxes constant. Excludes first-year effects.